Estimating fuel costs

The report, prepared by the Vietnam Institute for Economic and Policy Research (VEPR), said raising the environmental tax on fuel by VND1,000 (4.3 cents) per liter will increase inflation by 1.6 percentage points next year. “We are concerned that next year’s inflation will surpass the 4 percent target that the government has set in recent years,” said Nguyen Duc Thanh, VEPR head. Instead of setting targets without careful calculations, the government needs to have strong solutions keep inflation from rising, he added. The figure VEPR has come up with is much higher than that of the National Assembly Standing Committee, which estimated the rise would only be 0.07-0.09 percentage points. On the National Assembly’s estimation, Pham The Anh, head of macroeconomics at the Hanoi-based National Economics University, said that it was “too low and imprecise.” Environmental tax on fuel will affect material costs, which will increase production costs and raise … [Read more...] about Fuel tax to up Vietnam inflation by 1.6 percent

The estimated cost of measures to limit Earth-warming greenhouse gas emissions can be more than offset by reductions in deaths and disease from air pollution, researchers said on Saturday. To date, the average global temperature is thought to have increased by 1 C since the Industrial Revolution It would cost $22.1 trillion (17.9 trillion euros) to $41.6 trillion between 2020 and 2050 for the world to hold average global warming under two degrees Celsius (3.6 degrees Fahrenheit), a team projected in The Lancet Planetary Health journal. For the lower, aspirational limit of 1.5 C, the cost would be between $39.7 trillion and $56.1 trillion, they estimated. But air pollution deaths could be reduced by 21-27 percent to about 100 million between 2020 and 2050 under the 2 C scenario, the team estimated, and by 28-32 percent to about 90 million at 1.5 C. "Depending on the strategy used to mitigate climate change, estimates suggest that the health savings from reduced air pollution could … [Read more...] about Health savings outweigh costs of limiting global warming: study

Passengers are boarding a Vietnam Airlines aircraft. (Photo: VNA) Hanoi (VNA) – Many Vietnamese airlines have sought permission for fare hike on the ground that the world prices of fuel, which accounts for a big proportion of airlines’ operating expenses, are rising. A number of domestic carriers, including Vietnam Airlines and Vietjet Air, have submitted a request to the Civil Aviation Authority of Vietnam (CAAV) to raise their ticket prices, citing statistics of the International Air Transport Association (IATA) that average jet fuel prices in August this year has went up 33.5 percent from one year ago. According to the CAAV, the current air fare framework was calculated based on the price of Jet A1 fuel in December 2014 which stood at around 84.7 USD per barrel, plus import tax of 7 percent and environmental protection tax of 1,000 VND (0.043 USD) per litre. Meanwhile, a barrel of Jet fuel in Asia and Oceania this August fetched 86.7 USD, plus 7-percent … [Read more...] about Sharp rise in fuel prices prompts airlines to request fare hike

RIO DE JANEIRO — Brazil’s President Michel Temer, under pressure from a week-long national truckers’ strike which led to fuel and food shortages, ceded to protesters’ demands Sunday and slashed the cost of diesel. The cut, equal to 46 cents a liter, was to be locked in place for 60 days, the president said in televised remarks, as the strike paralyses much of the country’s economic infrastructure. Temer also agreed to four other demands truckers made. His decision came after Sergio Etchegoyen, the Minister of Institutional Security, said the country was "on a path to normalisation" although he added: "It’s not quick." Authorities deployed the military to clear barricades erected by strikers and have been escorting fuel trucks since Friday to maintain access to refineries. But federal transportation police reported that as of Saturday night, nearly 600 roads were at least partially blocked throughout the sprawling South American country. Gas … [Read more...] about Brazil cuts fuel prices after strike leaves food, fuel scarce

VietNamNet Bridge – Anyone in Hanoi craving fresh, juicy strawberries from the Central Highlands city of Da Lat shall have to pay for at least 35 per cent more than usual. But the extra money doesn’t go to farmers, but pays for costly transportation. Anyone in Hanoi craving fresh, juicy strawberries from the Central Highlands city of Da Lat shall have to pay for at least 35 per cent more than usual. But the extra money doesn’t go to farmers, but pays for costly transportation.— Photo danviet.vn Pham Tuan has been a fruit merchant for years, specialising in buying fruits grown in the south and delivering them to the north for sale. He complained of rising transportation expenses which made the fruit price leap dramatically for customers. “For example, each kg of avocado will cost an extra VND4,000 (17 US cents) for delivery from the south to my hometown in Hung Yen Province,” Tuan told Nong Thon Ngay Nay (Countryside Today). … [Read more...] about Logistics costs hamstring agricultural businesses